Republicans Say Move Will Add to Debt; Add President Lacks Authority to Act

WASHINGTON—The Obama administration said on Monday it would move to slash the monthly student-debt payments for millions of Americans, responding to mounting borrower defaults with a move it previously resisted due to cost concerns.

The plan drew swift criticism from congressional Republicans, who said it would drive up the federal deficit and questioned the president's authority to act without Congress. The federal government is the...

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President Obama addresses the struggles that middle class families have with debt before signing a presidential memorandum to reduce student loan debt. Photo: AP.